Voya Financial (NYSE:VOYA) Sees Unusually-High Trading Volume – What’s Next?

Voya Financial, Inc. (NYSE:VOYA) saw unusually-strong trading volume on Wednesday . Approximately 1,094,444 shares traded hands during trading, an increase of 44% from the previous session’s volume of 759,351 shares.The stock last traded at $70.56 and had previously closed at $68.43.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on VOYA shares. Bank of America reaffirmed a “neutral” rating and issued a $83.00 price objective (down from $91.00) on shares of Voya Financial in a research note on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $76.00 price objective (down from $87.00) on shares of Voya Financial in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of Voya Financial from $87.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price target on shares of Voya Financial from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Voya Financial from $90.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Voya Financial has a consensus rating of “Moderate Buy” and an average target price of $82.18.

Voya Financial Stock Up 1.9 %

The stock has a market cap of $6.95 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 0.49 and a beta of 1.05. The business has a fifty day moving average of $71.00 and a 200-day moving average of $74.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.31 and a quick ratio of 0.31.

Voya Financial (NYSE:VOYA) last posted its quarterly earnings results on Tuesday, February 4th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.65). Voya Financial had a return on equity of 15.09% and a net margin of 8.81%. Equities research analysts anticipate that Voya Financial, Inc. will post 7.11 earnings per share for the current year.

Voya Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, February 25th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $1.80 dividend on an annualized basis and a yield of 2.49%. Voya Financial’s dividend payout ratio is currently 28.66%.

Institutional Investors Weigh In On Voya Financial

Institutional investors have recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new stake in shares of Voya Financial during the fourth quarter worth about $47,155,000. KBC Group NV increased its holdings in shares of Voya Financial by 260.5% during the 4th quarter. KBC Group NV now owns 9,384 shares of the asset manager’s stock valued at $646,000 after purchasing an additional 6,781 shares in the last quarter. Barclays PLC raised its position in shares of Voya Financial by 48.2% in the third quarter. Barclays PLC now owns 48,890 shares of the asset manager’s stock worth $3,872,000 after acquiring an additional 15,902 shares during the period. Miracle Mile Advisors LLC purchased a new position in Voya Financial during the fourth quarter worth approximately $1,379,000. Finally, Retirement Systems of Alabama grew its stake in Voya Financial by 8.2% in the 3rd quarter. Retirement Systems of Alabama now owns 272,339 shares of the asset manager’s stock valued at $21,575,000 after acquiring an additional 20,750 shares during the period. Institutional investors own 96.10% of the company’s stock.

About Voya Financial

Voya Financial, Inc engages in the provision of workplace benefits and savings products in the United States and internationally. The company operates through three segments: Wealth Solutions, Health Solutions, and Investment Management. The Wealth Solutions segment offers full-service retirement products; recordkeeping services; stable value and fixed general account investment products; non-qualified plan administration services; and tools, guidance, and services to promote the financial well-being and retirement security of employees.